Question

How much would you have to invest today to receive the following? Use Appendix B or Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

  
a. $12,250 in 6 years at 10 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
  

b. $16,000 in 14 years at 12 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
  

c. $6,000 each year for 13 years at 9 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
  

Answer 1

1.
=12250/1.1^6=6914.80564315877

2.
=16000/1.12^14=3273.91700185445

3.
=6000/9%*(1-1/1.09^13)=44921.423541059